[VIDEO] ONE PERCENT PROPERTY TIPS - HOW TO ADD REAL VALUE TO YOUR HOME WHEN YOU GO TO MARKET!
Updated: Aug 7, 2020
Part 2 - Staging, Is it worth it??
In this video I discuss the topic of staging a home for sale and whether it is worth the cost.
In this video I review
- Why do people stage their home for sale
- Do I think staging is a good idea?
- What do the statistics say about the benefits of staging?
- What is the best way to approach staging your home
If you have any questions or would like to get an update on the value of your home please give me a call Daniel - 0424 585 391
Hi. Daniel from One Percent Property here with episode two of my property learning segments, One Percent Property Tips. So today I'm going to talk about... Last week, we spoke about presentation. Moving on from that today, I want to talk about staging. Staging, it's always a big discussion. Is it worth it or is it not? Yes or no? As far as I'm concerned, it's a big, yes, not always, but almost always. Have a look at these pictures. Have a look at these properties. This is the same room before and after staging. What do you think looks better? What's more inviting. What's going to push buyers to make a decision quicker because they feel like they must have that property?
Here's another one, another property I've sold recently. You can see the before and afters, you can see the massive difference. All it does is changing the furniture. Sometimes it's not required. This is a townhouse I sold recently. We got a fantastic result in seven days. Broke the suburb record. The property was beautifully presented. It didn't need to be staged. But a lot of the time, almost all the time staging adds significant value.
Now, when I say significant value, what am I talking here? Well, [Domain 00:01:12] did a study about staging. They found that staging on average will add six to 12 and a half percent. So if you're talking a million dollar house, you could be adding 60 to $125,000 to your sales value just by spending four to five grand and staging the property. That's a big, big profit back in your pocket at the end of the sales process. The Domain study also found that buyers, they commit to buying a property 70% faster on average, if it is staged than if it is not.
So rather than taking six weeks to sell, you might take two weeks to sell. So you take two weeks to sell and you make an extra $60,000 just by spending four or five grand to stage your property. To me, it makes sense. It makes a lot of sense. And again, it's not always applicable, but if you have a good stager... I work with a fantastic stager from Look Home Staging, Heidi. If you have a good stager, it really is something that can add serious oomph to the marketing. And it can mean that you sell your property quickly, that buyers walk in, they created an emotional connection to your property. And it sells in a matter of weeks for a fantastic price, as opposed to taking a little bit longer, which might happen if it is just traditional furniture or even empty, because people don't solicit that emotional response for the property.
So it's always a discussion that I have with my vendors. You can stage the house fully. You might do part of the property. I like to advise the living areas, because those are the wow areas where people walk into a house and really fall in love. And sometimes you don't do any. But definitely something that you need to keep in mind if you want to get the best possible result for your property. So thank you very much for tuning in to this episode of One Percent Property Tips. Hopefully this has helped out a little bit with your thoughts and with your discussions, when you're thinking about selling your home. I hope everyone has had a fantastic week so far, and I hope the rest of it is even better.